Examples of Litigation Trust Reserve in a sentence
On the Effective Date, (1) the SCC Litigation Trust shall be created and the SCC Litigation Trust Expense Fund shall be established; (2) the Debtors’ respective rights, title, and interests in the SCC Litigation Trust Claims and the Debtors’ Privileges associated therewith shall be transferred to the SCC Litigation Trust; and (3) ASARCO, Reorganized ASARCO, or the Plan Administrator, as the case may be, shall deposit Cash in the amount of $15 million in the SCC Litigation Trust Reserve.
Upon a determination by the SCC Litigation Trustee that no additional funds will be needed from the SCC Litigation Trust Reserve, the Plan Administrator shall allocate the remaining funds in the SCC Litigation Trust Reserve in accordance with the terms and conditions of the Plan Administration Agreement.
The Plan Administrator shall maintain the SCC Litigation Trust Reserve and shall from time to time, when requested to do so by the SCC Litigation Trustee, transfer funds from the SCC Litigation Trust Reserve to the SCC Litigation Trustee for the SCC Litigation Trust Expense Fund as the SCC Litigation Trustee deems reasonably necessary to the continued operations of the SCC Litigation Trust, up to an aggregate amount of $15 million.
Any Litigation Trust Proceeds to be distributed to the Holders of Allowed LandCo General Unsecured Claims, Allowed LandCo Credit Facility Deficiency Claims, or Allowed Insider Claims against the LandCo Debtors shall be kept in the Litigation Trust Reserve until such time as a LandCo Plan is confirmed and becomes effective providing for such distributions from the Litigation Trust.
The Litigation Trustee shall establish the Litigation Trust Reserve in accordance with Section 8.2 of this Litigation Trust Agreement.
The Committee Fees and Expenses incurred prior to and through July 31, 2017, excluding any Allowed fees and expenses of Bartlit Beck Herman Palenchar & Scott LLP and Klehr Harrison Harvey Branzburg LLP incurred in connection with the Specified Causes of Action, shall be subject to a cap of $1,425,000, with $100,000 of such amount payable on the Effective Date and $25,000 of such amount payable from the Litigation Trust Reserve.
In the event that either the OpCo Plan or the LandCo Plan is confirmed but does not provide for a distribution from the Trust for certain Allowed Claims thereunder upon the terms and conditions set for in such Plan, then any such amounts in the Litigation Trust Reserve will be distributed to the other LT Beneficiaries as provided in this Section 4.3(a).
Internal Audit has continued to target its assurance activity at areas of risk in its 2020/21 coverage in line with the agreed audit plan.
Any Litigation Trust Proceeds to be distributed to the Holders of Allowed OpCo General Unsecured Claims, Allowed OpCo Noteholder Unsecured Claims, or Allowed OpCo Credit Facility Deficiency Claims shall be kept in the Litigation Trust Reserve until such time as an OpCo Plan is confirmed and becomes effective providing for such distributions from the Litigation Trust.
Any Litigation Trust Proceeds to be distributed to the Holders of Allowed OpCo General Unsecured Claims, Allowed OpCo Noteholder Unsecured Claims, and Allowed OpCo Credit Facility Deficiency Claims shall be kept in the Litigation Trust Reserve until such time as an OpCo Plan is confirmed and becomes effective providing for such distributions from the Litigation Trust.